It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says
It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says
Garry Gensler told the Financial Times that AI could cause a financial crash as soon as the late 2020s or early 2030s.
It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says::undefined
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Fuck Gary Gensler. Dude tries to influence the market just to line his own pockets.
He should not be the head of the SEC.
Market manipulation? SEC should investigate him
Would you mind furnishing that statement with some links, articles, or some info to back it up? Iirc he's ex-Goldman Sachs but he seems to be making moves that hedge funds / market makers do NOT like. Vs the previous guy who just let them do whatever they wanted.
If you want to see the actual baddies, look at the 'self regulating' agency which has gone to great lengths to hide swap data, and the company which enforced 'position close only' on a large number of stocks (kicking off the infamous GME saga). Hint: it wasn't Robinhood. Robinhood was just one of many brokers who were instructed to set multiple stocks (not just GME) to 'position close only' aka no buying, only selling.
That is the job description of any regulator.
"Line your pockets with money from the people and entities you are supposed to reign in to protect the rest of the people who are subject to their actions so that your benefactors can prey on them."